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2 hours ago
Japan’s Canon Electronics stock plummets after Space One rocket explosion
Canon Electronics’ stock price fell as much as 12.7% after Tokyo-based Space One’s rocket exploded shortly after liftoff.
Canon is part of the group of companies that founded Space One in 2018.
According to Reuters, the solid-fuel Kairos rocket exploded within seconds of liftoff at 11:01 a.m. Japan time. If the mission was successful, Space One would have become the first Japanese company to put a satellite into orbit.
IHI Aerospace, the construction company Shimizu, and the government-affiliated Development Bank of Japan are other companies that helped establish Space One. Japan’s two largest banks, Mitsubishi UFJ and Mizuho Financial Group, also own minority stakes in Space One.
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— Shreyashi Sanyal
5 hours ago
Korea’s unemployment rate in February was 2.6%
South Korea’s unemployment rate in February was a seasonally adjusted 2.6% compared to the same month last year, according to official data.
This was slightly lower than January’s unemployment rate of 3%. This was also the lowest level since October 2023.
Korean stocks rose slightly, with the Kospi up 0.5%.
— Shreyashi Sanyal
7 hours ago
India’s inflation rate slowed slightly in February but exceeded expectations
India’s inflation rate in February was 5.09%, down slightly from January’s 5.10%.
However, the figure was higher than the 5.02% expected by economists polled by Reuters.
Food and beverages led price increases in February, recording an inflation rate of 7.76%, according to data from India’s National Bureau of Statistics.
— Lim Huijie
8 hours ago
Status of S&P 500 sectors where the index reached record highs
The S&P 500 index posted its 17th record close of the year on Tuesday. Here’s what the market looks like below the surface.
- Seven out of 11 sectors were positive on Tuesday.
- The best performing sector was the tech sector, up 2.5%.
- The worst-performing sector was utilities, which fell nearly 1%.
- All sectors are within 10% of their 52-week highs.
- All sectors are currently above both their 50-day and 200-day moving averages.
— Jesse Pound, Christopher Hayes
9 hours ago
Futures open little changed
Traders work on the floor during morning trading at the New York Stock Exchange (NYSE) on March 6, 2024 in New York City.
Spencer Pratt | Getty Images
When trading resumed at 6 p.m., futures prices for the S&P 500, Dow, and Nasdaq 100 were all within 0.1% of the flatline.
— Jesse Pound
9 hours ago
Coinbase falls after bond issuance announcement
Coinbase stock fell more than 2% in after-hours trading after the cryptocurrency exchange announced the issuance of $1 billion in convertible debt.
Coinbase said in a release that it will use the proceeds to repay outstanding debt or for general corporate purposes.
Coinbase stock has soared this year as Bitcoin reached record highs. The company’s stock price has increased more than 40% since the beginning of the year.
— Jesse Pound
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